New Mining Bill Proposes Uranium Mining Monopoly for Government
Summary
Nepal's government proposes a new mining bill granting exclusive rights for uranium mining to government companies, introducing hefty fines for unauthorized excavation, revoking idle licenses, and increasing royalties and fees to curb license hoarding and environmental harm.
Key Points
- The new mining bill grants government companies exclusive rights to excavate radioactive minerals like uranium.
- Heavy fines and imprisonment are imposed for unauthorized excavation of radioactive minerals.
- Mining licenses must be utilized promptly or face revocation, with increased annual land rent taxes to discourage hoarding.
- Royalties and fees have been significantly increased across mineral categories to prevent malpractice and promote fair resource use.
